Seán Canney (Galway East, Independent) | Oireachtas source

I thank both the Senators who are present today and who attended the debates on the previous Stages of the Bill in this House and I thank those who attended the debates on the Bill in Dáil Éireann for their contributions and constructive engagement on the legislation. The objectives of the Finance (Provision of Access to Cash Infrastructure) Bill 2024 are to ensure sufficient and effective access to cash in the State, provide a framework to manage future changes in cash infrastructure in a fair, equitable and transparent manner, and bring cash-in-transit providers and independent ATM deployers within the regulatory parameter of the Central Bank of Ireland. The 2022 review of retail banking in Ireland by the Department of Finance recommended that a framework be put in place to manage future changes to cash infrastructure in the State. The general scheme of this Bill was published in January 2024 and officials from the Department of Finance appeared before the Oireachtas Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach in February 2024. The committee published its pre-legislative scrutiny report in March 2024 and I thank the members of that committee for their constructive contributions at that stage in the legislative process. I note that many of the recommendations of the committee's report were subsequently included in the Bill.

The publication of the Bill was a priority for this and the previous Government and its smooth passage through the Houses of the Oireachtas would not have been possible without the co-operation of Members across both Houses. This legislation remains a priority for the Government and attention will now turn to the making of regulations, as provided for in the Bill, as soon as possible. The data necessary to set the access to cash criteria and appoint design entities cannot be collected on a statutory basis until a commencement order has been made and laid before the Oireachtas. It is anticipated that this will be done in the coming weeks.

Cash is the preferred method of payment for people for a variety of reasons. Budgeting and privacy are still key benefits of cash and it is a consistent and reliable way to make a payment. This legislation will help to ensure that cash is available when people want it and need it. The Bill ensures that cash remains a sustainable and accessible option for Irish society as a whole and in doing so, it protects people's ability to participate in society. Once again, I thank my colleagues here and in Dáil Éireann for their input and careful consideration of the Bill. I am happy that the Bill has passed all stages and will now go to Uachtarán na hÉireann to be signed into law.